
There's been, of course, an exponential increase in the academic study of recent pop-cultural phenomenon; like the press release says, intimidatingly hip grad students interested in researching "feminism, punk activism, queer theory, music history," et cetera, will find much to fascinate them here.
NYU's library, in general, has been for a number of reasons a natural destination for material pertaining to NY-centric alternative cultures of the last few decades. Notably, Up Is Up But So Is Down: New York’s Downtown Literary Scene, 1974-1992, Brandon Stosuy's marvelous, compendious anthology of the East Village's D.I.Y. lit scene, was put out by NYU Press, and drew heavily from—was in fact largely inspired by—materials archived at Fales's "Downtown Collection," as Stosuy discusses at length in this great interview.
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